The county’s affordability index was 75 in the analysis, which found that home prices around the country have hit their lowest level of affordability in a decade.

The report determines the affordability number based on the household income needed to purchase a median-priced home in the county compared to historical data. An index under 100 indicates declining affordability.

In Wilson County, a median home costs $279,900.

“Slowing home price appreciation in the second quarter was not enough to counteract an 11 percent increase in (national) mortgage rates compared to a year ago, resulting in the worst home affordability we’ve seen in nearly 10 years,” said Daren Blomquist, senior vice president at ATTOM Data Solutions.

Tennessee counties with lowest home affordability indexes

County

Q2 2018 Median Sales Price

Annual Income Needed to Buy (3% Down and 28% Front-End DTI)

Annualized Weekly Wages

Pct of Annualized Wages to Buy

Historic Pct of Wages to Buy

Q2 2018 Affordability Index

Wilson

$279,900

$74,905

$42,315

49.6%

37.0%

75

Davidson

$264,950

$72,776

$58,006

35.1%

27.8%

79

Sumner

$220,000

$58,433

$42,796

38.2%

32.0%

84

Rutherford

$215,000

$56,369

$47,853

33.0%

28.0%

85

Shelby

$152,250

$41,260

$54,730

21.1%

17.9%

85

Blount

$167,000

$44,520

$46,631

26.7%

23.3%

87

Sullivan

$125,500

$33,419

$46,540

20.1%

17.8%

89

Williamson

$437,670

$117,336

$62,426

52.6%

47.4%

90

Bradley

$135,000

$35,877

$40,430

24.8%

23.8%

96

Montgomery

$160,000

$42,722

$37,492

31.9%

31.6%

99

Washington

$148,500

$39,897

$40,690

27.5%

27.2%

99

Hamilton

$168,000

$45,499

$49,153

25.9%

26.0%

101

Knox

$164,450

$44,809

$47,723

26.3%

28.4%

108

Source: ATTOM Data Solutions

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